Stamp Taxes on Shares Manual

CREST: CREST Functionality: agent indicators

Participants entering transaction details into CREST are required to insert a code to indicate the capacity in which they are acting. The codes are:-

P

Principal broker dealer purchase (from client or market)

S

Principal broker dealer sale (to client or market)

A

Agent broker dealer purchase or sale

Custodians and fund managers acting for clients typically do so in an agency capacity unless, under the terms of the counterparty agreement, they take a principal role. To reflect this arrangement, the Agent Indicator field should be populated with ‘A’ when receiving or delivering stock for clients.